Gold price falls to $1,877

MG News | November 10, 2020 at 06:13 PM GMT+05:00

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November 10, 2020 (MLN): Breaking its rising streak, the gold price plunged on Tuesday when the pharma company Pfizer announced the positive results of coronavirus vaccine news, increasing risk appetite.

The price of yellow metal fell by $80 to $1,877 an ounce while the white metal in the international market was traded at $24.15 per ounce.

On the domestic front, the price of 24 karat gold dropped by Rs 2,500 to Rs 112,100 in the bullion market. The precious yellow metal of 24-Karat had closed at Rs 114,600 per tola on the last day.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also plunged by Rs 2,143 to Rs 96,108 against the price of Rs 98,251 reported Monday.

On a similar note, the price of per tola silver dropped by Rs 70 to clock in at Rs 1,180 per tola. Moreover, the price of 10-gram silver witnessed a decrease of Rs 60.02 to close at Rs 1,011.65, as per the Karachi Sarafa Association.

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